Tesla Model 3 will undercut Chevrolet Bolt in US – report

The upcoming Tesla Model 3 will undercut the new Chevrolet Bolt in its home market, with the electric car maker this week reaffirming its commitment to a starting price of US$35,000 ($49,300).

After the higher than expected pricing for the Model X, which was unveiled last year, some analysts and commentators had speculated that the company would walk back from its earlier statements on the Model 3’s opening point.

That means that the Model 3’s list price will undercut the Chevrolet Bolt EV hatch by US$2500 ($3520). The Bolt, which was unveiled in production guise at this year’s CES, will be available in the US from late this year with a starting price of US$37,500.

Its battery pack, developed in conjunction with LG Chem, is said to give the tall hatch a driving range of over 320 kilometres (200 miles). Foot to the floor, the Bolt can do the 0-60mph (0-96km/h) sprint in around seven seconds.

With the Bolt, GM has decided to marry its affordable all-electric drivetrain with a Jazz-style tall hatch body. For the Tesla Model 3, Tesla is aiming for buyers who are in the market for the BMW 3 Series, Mercedes-Benz C-Class, Audi A4, or any of their direct competitors.

The pricing for both the Model 3 and Bolt are before any state or federal government rebates for electric cars. In some US states this can total $US7500 ($10,600) in incentives. This would bring the price of the Bolt down to US$30,000, and the Model 3 to US$27,500.